Australian fullback Billy Slater has urged his teammates not to waste the opportunity to win the World Cup knowing very few players get second chances at this level.

In the 54 years of World Cup rugby league, featuring nine finals, only ten players have won multiple titles and Australian captain Darren Lockyer is aiming to be the 11th.

Four players have lost a final and returned to win a World Cup at the next edition while five Englishmen played in back-to-back final losses - an achievement Kiwi captain Nathan Cayless is trying to avoid.

With the next World Cup not until 2013 more than half of Australia's squad will be on the wrong side of 30 and under threat from a new brigade of Kangaroos for Test spots.

Former stable jockey Slater, 25, knows this could be his only chance to win a World Cup with a long wait until the next tournament.

"This is my first year playing for Australia and it's a very, very passionate thing to play for your country and we are blessed that we've got the opportunity to play in a World Cup," said Slater.

"It's been years since the last World Cup and I think it's going to be another five years until the next one.

"Test jerseys don't come around too often let alone World Cups.

"It is pretty important that we take this opportunity so in 10 or 20 years time when you're sitting at home you can look back on this with fond memories and I'm sure it will be up there with the fondest.

"We have one more game to go and hopefully we play well next week and it will be a very memorable Melbourne Cup, I mean World Cup, for us."

Australia have coasted to the decider but are wary their trouble-free path to Suncorp Stadium has the potential to blow up in their face with battle-hardened New Zealand preparing an ambush on Saturday night.

Since Australia beat New Zealand 30-4 in their tournament opener the Kangaroos have beaten England 52-4, Papua New Guinea 46-6 and Fiji 52-0 in Sunday night's semi-final.

The Kiwis, meanwhile, have claimed two tight victories over the English and have a new halves combination in Benji Marshall and Nathan Fien to throw at the Australians.

Slater has watched their progress and is certain they'll be far tougher than when the two sides met four weeks ago in Sydney.

"They've improved a hell of a lot since we played them in round one of the tournament," said Slater.

"They've got their combinations right and they're like us in that the more they've played together the more they've gelled.

"They're going to be physical and tough to beat and with their key positions playing well it's going to be a great game.

"It is the two best sides in the World Cup come together in the final."

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